THE TRUE COST OF LIVING IN UK CITIES
Depending on where you live and work in the UK, it’s likely that someone is making more money in the same role. It can sometimes seem like a real postcode lottery.
However, this doesn’t necessarily make them better off than you.
There are several factors involved which level the playing field regardless of someone’s wages. These fall under the ‘true cost of living’ which looks at everything from property prices, taxes and energy costs to grocery shopping.
Once all of this has been paid up for the year, you’re left with your disposable income. But it isn’t always so black and white.
In some cities, if you earn the average wage, you’re working to simply meet your essential spend – leaving you with nothing in the way of disposable cash come year’s end.
Depending on which city you call home, you could even be earning less than your region’s average cost of living meaning you’ll always have to either scrimp and save or accept some level of debt.
|Rank||City||Cost of Living||Rent||Groceries||Restaurant Price|
One of the largest, most frequent expenditures that applies to everyone is the cost of food shopping. The following rankings, based on the same cities as the table above, show the highest and lowest spenders when it comes to getting groceries.
To give a wider overview of these essential costs – here is a regional comparison which shows the average annual outgoings per household.
This brings things into perspective when compared to the average wages of each city, for instance, the examples below show those cities left with the highest and lowest amount of money after the average annual household spend per region has been taken off their wages…
UK WAGES RISING
Wherever you live there’s bound to be fluctuations – let’s be honest – not everyone makes the average wage for their city and we don’t all spend the same amount on a weekly shop, however, there is one trend that affects us all, earnings across the UK are continuing to steadily rise.
The East Midlands, London and the East of England have seen the largest growth in employee pay during 2017.
Posted by- Karuna